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The spate of divestment hitting the Nigerian oil and gas industry has been blamed on Insecurity and the current waves of energy transition being pursued by the International Oil Companies (IOCs) A former Deputy managing director of Shell Petroleum Development Company,(SPDC), Egbert Imomoh, said that there are also several other reasons why IOCs are divesting from Nigeria. According to Egbert ...

Director, Department of Petroleum Resources (DPR), Mr Sarki Auwalu, has called for the support of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) towards the smooth implementation of the Petroleum Industry Act (PIA). Auwalu made the call on Thursday at the 6th Triennial Branch Delegates Conference and Award Ceremony of the Petroleum and Natural Gas Senior Staff Association ...

Aiteo Eastern Exploration and Production Company Limited has instituted a legal action against Shell Petroleum Development Company of Nigeria, seeking the sum of over $2.5 billion compensation over the sales of Oil Mining Licence 29. Aiteo in the court action dated July 27, 2021 as accusing Shell of selling two Marginal Fields – Kugbo West and Okiori to it when ...

……….by Jenifer Dike………. As part of efforts to align it’s global businesses to low carbon emissions and fast-track its energy transition policy, Royal Dutch Company, Shell has further taken another giant divestment stride in the US as it sells $9.5 billion asset and launches Renewable Natural Gas ( RNG) production after it’s divestments move in Nigeria. The oil major is ...

Eni has discovered oil on the Baleine prospect in block CI-101 offshore Ivory Coast.The drillship Saipem 10000 drilled the Baleine-1x well in 1,200 m (3,937 ft) of water and about 60 km (37 mi) offshore. It reached a total depth of 3,445 m (11,302 ft) in 30 days. Baleine-1x discovered light oil (40° API) in two different stratigraphic levels. Intelligent ...

The Department of Petroleum Resources (DPR) says the Federal Government’s plans to increase the nation’s oil and gas reserves, are on course and being boosted by strategic policies and programmes. Head, Public Affairs, DPR, Mr Paul Osu, made this known in a statement on Tuesday in Lagos. Osu said the national aspiration of Nigeria was to increase its reserves from ...

..,……As Kyari Clarifies Revenue Projection for 2022-2024 Revenue Framework……… The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, on Wednesday received accolades from the House of Representatives Committee on Finance for providing detailed explanations on some burning Oil Industry issues at an interactive session on the 2022-2024 Medium Term Expenditure and Revenue Framework (MTERF) and ...

The leaders of Ogoniland in Rivers State under the auspices of the Ogoni Liberation Initiative have pledged to cooperate with the Nigerian Petroleum Development Company (NPDC) in the exploration and production of oil and gas resources in its territory. The Ogoni leaders made the pledge Tuesday at the Ogoni Liberation Day which held in Bori with the Managing Director of ...

Energy experts and oil and gas experts have been explaining and appealing to members of the public particularly the Niger Delta people who have frowned over the signing of the PIB into PIA by President Mohammadu Buhari. The signing into law the PIB has continued to elicit different reactions from industry players, stakeholders and host communities as well. While many ...

The Nigeria National Petroleum Corporation (NNPC), through its subsidiary, the Nigeria Petroleum Development Company (NPDC) has taken over the operation of Oil Mining License 11 (OML 11). This is as a result of the recent Appeal Court judgment affirming its operatorship of the OML 11. NNPC has describe the court judgement as a huge victory for Nigeria and the beginning ...